HighTower Advisors LLC Trims Position in Quanex Building Products Co. (NYSE:NX)

HighTower Advisors LLC trimmed its holdings in Quanex Building Products Co. (NYSE:NX) by 9.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,477 shares of the construction company’s stock after selling 2,128 shares during the period. HighTower Advisors LLC’s holdings in Quanex Building Products were worth $537,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Quanex Building Products by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock valued at $28,000 after acquiring an additional 393 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Quanex Building Products during the 3rd quarter worth approximately $37,000. Innealta Capital LLC bought a new stake in shares of Quanex Building Products in the second quarter worth $46,000. nVerses Capital LLC increased its position in shares of Quanex Building Products by 900.0% in the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the construction company’s stock worth $55,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Quanex Building Products by 10,450.0% in the third quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock valued at $59,000 after buying an additional 2,090 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Quanex Building Products

In other news, CEO George Laverne Wilson bought 4,328 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $23.03 per share, for a total transaction of $99,673.84. Following the acquisition, the chief executive officer now directly owns 287,644 shares of the company’s stock, valued at $6,624,441.32. The trade was a 1.53 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.15% of the stock is owned by company insiders.

Quanex Building Products Stock Performance

Quanex Building Products stock opened at $25.10 on Friday. The firm’s 50 day simple moving average is $29.43 and its 200-day simple moving average is $28.85. The company has a market cap of $1.19 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 0.89 and a beta of 1.24. Quanex Building Products Co. has a fifty-two week low of $22.92 and a fifty-two week high of $39.31. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 14.06%. During the same quarter in the previous year, the company posted $0.95 EPS. As a group, equities research analysts predict that Quanex Building Products Co. will post 2.26 EPS for the current year.

Quanex Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.27%. Quanex Building Products’s dividend payout ratio (DPR) is 28.57%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NX. StockNews.com lowered Quanex Building Products from a “buy” rating to a “hold” rating in a report on Saturday, December 14th. Benchmark reiterated a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research note on Wednesday, September 11th.

Quanex Building Products Company Profile

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.